Ainsworth sees annual profit slide despite strong first half

Ainsworth Game Technology, an Australia-based manufacturer of slot machines, reports that its previous fiscal year profit was $23.3 million, a 15.8% decline over the previous fiscal year. Its revenue for the period fell 5.8% compared to last year, coming in at $194.2 million. Pre-tax profit also declined, falling about 9.8% to around $30.9 million. All figures are in US dollars.

The company’s EBITDA (earnings before interest, taxes, debt and amortization) slipped 3.3% year-on-year to $49.7 million. Adjusted EBITDA, accounting for currency impacts and other items, dropped by 19.6% year-on-year to $49.4 million.

If there is a silver lining in the numbers, it’s that sales increased during the second half of the fiscal year. The total brought in for the half was $106.2 million , while only $87.9 million was recorded for the first half. Ainsworth sold 9,714 units during the fiscal year, a drop of 9% from the previous period.

The decline came from “lower Asia, New Zealand and Europe Sales” for the period, according to the report. There was also a one-off impairment loss of $658,207 that stemmed from an “Asian trade receivable.”